American Money Management LLC Acquires 1,254 Shares of American Tower Co. (NYSE:AMT)

American Money Management LLC boosted its holdings in shares of American Tower Co. (NYSE:AMTGet Rating) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,589 shares of the real estate investment trust’s stock after acquiring an additional 1,254 shares during the quarter. American Tower accounts for about 1.7% of American Money Management LLC’s portfolio, making the stock its 14th largest position. American Money Management LLC’s holdings in American Tower were worth $6,607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC grew its holdings in American Tower by 3.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,312 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 38 shares during the last quarter. Vigilant Capital Management LLC lifted its position in shares of American Tower by 3.7% in the 4th quarter. Vigilant Capital Management LLC now owns 1,113 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 40 shares during the period. Beech Hill Advisors Inc. lifted its position in shares of American Tower by 0.3% in the 4th quarter. Beech Hill Advisors Inc. now owns 12,025 shares of the real estate investment trust’s stock worth $3,517,000 after purchasing an additional 40 shares during the period. CX Institutional lifted its position in shares of American Tower by 4.2% in the 3rd quarter. CX Institutional now owns 1,065 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 43 shares during the period. Finally, JNBA Financial Advisors lifted its position in shares of American Tower by 54.4% in the 4th quarter. JNBA Financial Advisors now owns 122 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 43 shares during the period. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

AMT has been the topic of a number of recent analyst reports. KeyCorp dropped their price target on shares of American Tower from $311.00 to $286.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Morgan Stanley boosted their price target on shares of American Tower from $274.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 7th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of American Tower from $288.00 to $260.00 and set a “hold” rating on the stock in a research report on Monday, February 28th. Barclays dropped their target price on shares of American Tower from €295.00 ($307.29) to €284.00 ($295.83) in a research report on Friday, March 18th. Finally, Raymond James dropped their target price on shares of American Tower from $294.00 to $279.00 and set an “outperform” rating on the stock in a research report on Monday, February 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $288.92.

AMT traded up $2.81 during trading on Thursday, hitting $233.44. 64,217 shares of the company’s stock were exchanged, compared to its average volume of 1,851,526. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 4.12. The business’s 50 day moving average is $246.86 and its two-hundred day moving average is $254.39. American Tower Co. has a fifty-two week low of $220.00 and a fifty-two week high of $303.72. The stock has a market cap of $106.51 billion, a P/E ratio of 39.90, a PEG ratio of 2.32 and a beta of 0.49.

American Tower (NYSE:AMTGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share for the quarter, missing the consensus estimate of $2.41 by ($0.85). American Tower had a return on equity of 30.44% and a net margin of 26.72%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts forecast that American Tower Co. will post 9.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 17th will be paid a $1.43 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.40. This represents a $5.72 annualized dividend and a dividend yield of 2.45%. American Tower’s dividend payout ratio is presently 96.89%.

In other news, CFO Rodney M. Smith sold 25,389 shares of the company’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $270.00, for a total value of $6,855,030.00. Following the completion of the sale, the chief financial officer now owns 52,398 shares in the company, valued at approximately $14,147,460. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

About American Tower (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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